trafalgar risk management limitedtrm - ICB Professional Indemnity

Institute of Certified Bookkeepers Insurance - Premium Package

What's covered

The Premium Package
1) Professional Indemnity View Policy Wording
2) Legal Expense Insurance View Policy Wording
3) Employers' Liability & Public Liability General Policy Wording
Public Liability Wording
Employers Liability Wording


1) Professional Indemnity Insurance

Summary of Cover

This is a brief description of the cover provided and does not contain the full details. We recommend you read the policy wording for full details of cover.
Professional Indemnity Insurance
Professional indemnity - provides cover for claims first made during the policy period, within the territorial limits, which you may become legally liable, arising out of the your professional conduct of the business (as described below) and alleging that liability occurred as a result of a negligent act, error or omission, loss of documents or dishonesty of employees.

Under dishonesty of employees no protection is given after suspicion has arisen and there is no cover for those committing or condoning such acts.

The policy is on a ‘claims made’ basis and only covers claims first made during the policy period and you must advise the insurers during the policy period or any claim or circumstance that may give rise to a claim.
Business Activity
Bookkeeper
Limit of Indemnity
Choice of Limits from £50,000 up to £2,000,000 any one claim and in the aggregate, inclusive of costs, during the Period of Insurance
Period of Insurance
12 months from the Inception Date shown in your Schedule of Insurance
Territorial Limits
Worldwide excluding USA and Canada, their Dominions or Protectorates or as varied and excluded in the Schedule
Interest – is claims first made during the policy period arising out of your business professional conduct which allege the following:
1. Negligence or breach of duty of care
2. Negligent misstatement or negligent misrepresentation
3. Unintentional infringement of intellectual property rights including copyright, patent, registered design right or breach or misuse of confidential information
4. Defamation
Excess
£250 each & every Claim
Exclusions
  • Any claim or potential claim or circumstance (has potential to produce a claim) known to the Insured, or which ought to have been reasonably known to the Insured, prior to the inception of this policy or claims from services undertaken prior to the Insured’s incorporation.
  • Any claim made against the insured from an entity in which the Insured exercises a financial or managerial interest or claims made by one insured against another.
  • Any claim or potential claim or circumstance, emanating from within the USA or Canada or any territories, which are within the jurisdiction of the USA or Canada.
  • Any claims involving death or bodily and/or for physical loss or damage to property (unless arising out of the loss documents extension).
  • Claims arising under contractual liability unless the liability would have existed in the absence of the contract. Also any claims from any contract where the insured does not either exclude or limit liability for loss of data, software, profits, turnover, revenue, sales or any other consequential loss.
  • Claims arising from the loss or distortion of electronically held data and or date recognition failure. Also any claims arising out of computer viruses.
  • Claims from the recommendation, sale, supply, manufacture, installation or servicing of any goods or products.
  • Claims arising from inherent or latent defect in software, hardware or firmware.
  • Claims from any contract where the insured does not check that they can meet the requirements of the contract.
  • Any claims arising from investment of client funds, purchase or sale of stocks, shares or investments or the administration, management or operation of any pension fund or trust fund. Any claim arising from any express or implied performance of an investment.
  • Any claims arising from trading liabilities of any business where the insured has carried on or managed that business.
Conditions
  • Claims and circumstances must be notified to the Insurer in writing within 30 days as soon as they are known to the Insured and in any event must be advised during the period of the policy.
  • Insurers can cancel the policy by giving 30 days prior notice. In these cases Insurers will return a pro-rata proportion of the premium. As the Insured you can cancel at any time with Insurers calculating their return premium based on their short rate terms. No return of premium will be made where a claim or potential claim has been notified during that period of insurance.
  • Complaints can be referred to the Insurer in writing and the Insurer will endeavour to respond within 8 weeks. There is no referral to the Financial Ombudsman Service. If the Insurer cannot meet their liabilities, there is no fall back to the Financial Services Compensation Scheme.
  • You must disclose to the Insurer all material facts and information prior to and/or at inception of your policy, and/or at any time during the period of insurance if your circumstances change. Failure to do so could result in the Insurer being able to invalidate the cover and decline to meet any claims.
Insurer
Trafalgar Insurance Company Limited
Normandie House
Rue A Chiens
St. Sampson
Guernsey GY2 4AE

Trafalgar Insurance Company Limited is authorised and regulated by the Guernsey Financial Services Commission


2) Legal Expense Insurance

The purpose of this Policy Summary is to help You to understand the insurance by setting out the significant features, benefits, limitations and exclusions. You should still read the full Policy Wording for a full description of the terms of the insurance, including the definitions. This Policy Summary does not form part of the Terms and Conditions.

Insurance Provider
This insurance is underwritten by Brit Insurance Ltd – 55 Bishopsgate, London, EC2N 3AS and administered by Abbey Legal Protection a trading division of Abbey Protection Group Limited.

Duration of Contract
The Period of Insurance is for 12 months or as otherwise stated in Your Policy Schedule.

Premium
The premium payable is as stated in Your Policy Schedule and Indication.

Insurance Cover
This is a claims made insurance which covers claims notified within the Period of Insurance. The Insurance indemnifies You for Legal Costs as shown in the Policy Benefit table below.

Significant Benefits and Exclusions

Indemnity Limits
  • Sections A - E £25,000 any one claim
  • Section F £1,000 any one claim

  • £500,000 in the Aggregate
  • Schedule
    Territorial Limits
    The United Kingdom of Great Britain and Northern IrelandSchedule
    Excess
    All sections - NilSchedule
    Increased Excess (For use of own Appointed Representative)
    Sections D & F - Not applicable
    All other Sections - £1,000 any one claim
    Schedule

    Policy BenefitsPolicy ExclusionsPolicy Ref
    Criminal Prosecution
    Defence of Criminal Prosecutions.
  • Arising from HMRC investigations
  • Allegations of dishonesty
  • Allegations of speeding or driving whilst under the influence of alcohol or drugs or allegations of non endorsable road traffic offences
  • Section A
    Civil Defence
    Legal expenses incurred in;
  • defending a civil action against you for allegations of unlawful discrimination
  • appealing against the serving of a Statutory Notice on you under the Health and Safety at Work Act 1974
  • - Section B
    Professional Hearings
    Representing you
  • Upon receipt of official notification from the General Medical Council into a complaint made against You requiring a formal response and/or attendance at a pre-dismissal interview provided the maximum indemnity is £2,500 Any One Claim
  • In a formal investigation or disciplinary hearing brought against You by any, professional or regulatory body.
  • allegations of private practice clinical negligence;
  • Section C
    Tax Protection
    Expert representation for Your business in the event of either a full enquiry, an Employer Compliance dispute, an aspect enquiry, a Schedule 36 pre dispute request or a VAT tribunal
  • Technical or routine treatment matters
  • Defence of a criminal prosecution
  • Taxation proceedings arising out of negligent misstatements or omissions by You or a lack of reasonable care in keeping Your business books and records
  • Investigations solely into earlier accounts or records
  • Where Corporation Tax and Income Tax Self Assessment Returns are submitted outside statutory time limits
  • Preparation or correction of a Self Assessment return
  • Investigations by the Special Civil Investigations or Criminal Investigations Office of HMRC
  • Disputes concerning Working Families Tax Credit, National Minimum Wage, IR35 legislation
  • Where the Anti Avoidance Intelligence Unit of HMRC are involved
  • Section D
    Data Protection
    Defence of claims arising out of an application or appeal under the Data Protection Act
    - Section E
    Jury Service Allowance
    To pay the amount You are liable to pay employees when they attend on jury service
  • Limited to £100 a day and £1,000 any one claim
  • Section F

    Advice
    Policyholders will have unlimited free access to the Legal Advice Line for specialist UK advice covering:
    • Commercial Law • Employment Law • Scottish Law • Health and Safety • Taxation • VAT Enquiries

    Claims Handling and Claims Notification
    Initial notification of a Claim must be given by written notification, by first class post or facsimile to the Claims Department at Abbey Legal Protection, Minories House, 2-5 Minories, London EC3N 1BJ.
    All notices and communications from the Insurer or their representatives to the Insured shall be deemed to have been duly sent if sent to the Insured’s address as last declared to the Coverholder or, in relation to any matters arising out of any Claim, if sent to the Appointed Representative.

    Your right to cancel
    If You are an individual acting for purposes outside Your trade, business or profession, You have a right to change Your mind and cancel Your Policy within 14 days of insuring with us and receiving Your policy documents, by writing to: Trafalgar Risk Management Ltd, through the contact page at www.trafalgar.uk.com. No charge will be made and any premium You have already paid will be refunded.

    Your right to complain
    If You are not satisfied with any aspect of our service or the insurance provided, You should contact us by writing to:
    The Customer Services Manager, Abbey Legal Protection, Minories House, 2-5 Minories, London EC3N 1BJ.
    We will do our best to resolve Your complaint but, if You are still not satisfied You can refer Your complaint to the Financial Ombudsman Service who may be able to review Your case:
    The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR.

    Your right to compensation
    If You have a turnover or income of less than £1m a year You may be eligible for compensation from the Financial Services Compensation Scheme should the Insurer not be able to meet their obligations.

    Applicable Law
    If there is a dispute between You and the Insurer, You and the Insurer are free to agree the law applicable. Unless specifically agreed to the contrary this insurance shall be subject to the laws of England and Wales.


    3) Employers Liability and Public Liability Insurance

    1. Employers' Liability (Compulsory Insurance) Act 1969 states that all limited companies must have an insurance policy in place, to protect against claims for any injury sustained by an employee of the company in the conduct of their business - even if you are the only employee.

    2. Public Liability provides cover against injury to third parties &/or damage to third party property, caused by an employee of the company in the conduct of their business.

    Limit of Indemnity:
    1) £10,000,000 any one occurrence
    2) Choice of Limits from £1,000,000 up to £5,000,000 any one claim
    Excess:
    1) £Nil
    2) £250 Third Party Property Damage only
    Situation:
    Worldwide excluding USA/Canada
    Jurisdiction:
    Any actions against the Insured must be brought in a court within the following territories: - Great Britain, Northern Ireland, the Isle of Man or the Channel Islands


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    Terms of business | Initial Disclosure | Security policy | Conditions of use
    Trafalgar Risk Management Limited is authorised and regulated by The Financial Services Authority under registration number 311662.
    Trafalgar Risk Management Limited is a member of the British Insurance Brokers Association.
    Registered in England & Wales No. 03876370.
    Registered Office: Audit House, 260 Field End Road, Eastcote, Middlesex, HA4 9LT.